GLOUCESTERSHIRE GATEWAY LIMITED
Company number: 07002304
Reporting period:
30 December 2019 to
28 June 2020
This report was filed on 30 July 2020
and approved by Laurence King
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 80%
- in 31 to 60 days: 14%
- in 61 days or more: 7%
Invoices due but not paid within agreed terms: 23%
Payment terms
Shortest standard payment periods
7 days
Longest standard payment period
105 days
Standard payment terms
Our policy is to comply with the payment terms of our suppliers. Where no terms are specified we apply 30 days. We currently operate a weekly payment run.
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
105 days
Our longest standard payment terms of 105 days apply to one supplier and these terms are as required by them. Our next longest payment terms are 60 days.
Any other information about payment terms
Instead of using invoice receipt date (as this is not captured by our system) we have used invoice date as the basis for our calculations which will negatively impact on our statistics. This period will also have incurred the effects of Covid 19 which has caused disruptions to normal procedures and processing.
Dispute resolution process
Invoices in dispute go on hold and we contact the supplier to resolve the issue. Once resolved the invoice will be paid on the next weekly payment run.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No